The government of Mexico studies the possibilities of boosting its economy with decentralized currencies, getting involved with the team behind the cryptocurrency VIP $ Coin, an asset blockchain backed by assets, as they disclosed in a press release to Cointelegraph Español.
The Secretary of Finance Credit of Mexico, Rogelio RamĂrez through an official letter that was sent to the founders of VIP $ Coin, comments on his plans to explore the potential of the currency as a decentralized asset to expand transactions of foreign exchange and increase the Gross Domestic Product (GDP) of the country.
Since the VIP $ Coin coin is asset-backed, they say they are in a good position to easily integrate with the existing economy.
Mexico It has been trading its economy on traditional fiat currencies due to its wide limit of natural assets that makes it maintain and stabilize its value.
According to the press release, VIP $ Coin will work together with the Ministry of Finance and Public Credit of Mexico, in order to strengthen a good participation of Mexico in the international currency market.
“This is a big step in the world of decentralized finance. Mexico is one of the first nations to realize the potential of digital assets to replace physical ones, something that has been the standard for thousands of years, today we are witnessing a change in banking and public finance such as we know, and we are excited to be part of the change, ”said Chris Brice, co-founder of VIP $ Coin.
VIP $ Coin would be the first currency that will be used as economic support for a country other than as it is Bitcoin in El Salvador, although VIP $ Coin already has the backing of the International Human Rights Commission (IHRC).
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